Cattle futures ended Monday with mixed results, as live cattle contracts for June rose by 50 cents while other months fell by up to $1.92, according to trading data from May 12. Feeder cattle futures also saw declines in the front months, except for May which closed higher by $1.025. Cash trade last week settled between $256 and $260, with southern sales at $256-258 and northern trades at $258-260.
The movement in cattle markets follows a Wall Street Journal report that the United States is considering temporarily lowering beef import tariffs as soon as Monday. This development has introduced uncertainty into the market, affecting both live and feeder cattle prices.
US pasture conditions were reported at 31% good or excellent in the latest Crop Progress report, with the Brugler500 index rating pastures at 275 on its scale of 100-500 points. At the Oklahoma City feeder cattle auction, prices were down $5-10 for feeder steers and steady to $5 lower for feeder heifers on a run of over five thousand head.
Wholesale boxed beef prices increased in Monday afternoon’s report; Choice boxes rose by $2.83 to reach $391.22 while Select boxes climbed by $6.48 to hit $361.49, putting the Choice/Select spread at a premium of 27 cents over Select cuts. The United States Department of Agriculture estimated federally inspected cattle slaughter for Monday at 102,000 head—4,000 more than last Monday and nearly five thousand above year-ago levels.
June live cattle closed at $249.400 (up $.500), August live cattle finished at $243.550 (down $.550), October live cattle ended at $236.675 (down $1.625). For feeders: May closed up ($368.400), August down ($362.300), September down ($360.150).
Austin Schroeder said: “On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article.” He added: “All information and data in this article is solely for informational purposes.” For further details about disclosure policies see Barchart Disclosure Policy.
Arizona Grain supports community development through agricultural leadership and improved air quality via ethanol production; it operates facilities across Arizona—including Buckeye, Casa Grande, Maricopa, Yuma—and one site in Ripley, California; it functions as a privately held company; Pinal Energy created approximately forty-five jobs locally; Arizona Grain aims to lead animal feed supply chains through high-quality products; and it pioneered ethanol production statewide—all according to its official website.
